Highland Park land prices highest in HISTORY!

5330 Lobello, 9516 sf, 1 acre

Available: $4,395,000 -- Private Listing, Kim Gromatzky, Dave Perry-Miller & Associates

Land values in University Park have increased 25% in the last year, with another 10-15%, according to Brian Hagen, appraiser with DW Skelton's office.  East of Hillcrest is an extremely active area, with 70' lots commanding $60-80/sf, or $850,000 minimum for a lot.  In Highland Park, prices are the highest in HISTORY, at $8-10 million for an acre (if you can find it), or $230/sf!!!  Half acre HP lots, says Hagen, on Crescent, Armstrong and Stratford, are getting $4-5 million, with 4 recent sales.  The French street lots are trading for $150-170/sf.  A 50' lot on Harvard will bring $100-125/sf. Four or five builders are putting up specs in the $2 million range, and several are going under contract before they are built. There are a few specs in the $5 million range coming on as well.
Currently, there is 1 NEW HOUSE in HIGHLAND PARK.  That's it...

Private sales have accounted for 80% of land sales in the Park Cities, particularly in the $4 million plus range.  There have been more hip pocket sales in the last 12 months than in the last 5 years.
ON FIRE MARKET!

Not quite Tahoe, still idyllic

Imagine sitting on your patio or terraced deck, listening to songbirds, a babbling brook, the breeze rustling the trees leaves, every morning from your Lakewood Treehouse.  If you love the outdoors, serenity and natural beauty, check out this view from the new master bedroom, under construction.  Maybe it's because I will always miss Lake Tahoe, but when I stand on the newly poured slab looking out eye level with the birds, I feel just a little bit of it here in Dallas.  For sale at 6566 Lake Circle, builder Maplehill Residential, represented by Kim and Taylor Gromatzky, Dave Perry-Miller & Associates.